Financial Administration
Stratawide Management provides comprehensive financial administration services designed to ensure transparency, accuracy, and effective financial management for your strata scheme.
Our Financial Services include:
- Establishing and maintaining accurate accounting and financial records for each strata scheme
- Preparing detailed financial reports outlining income and expenditure
- Managing individual trust accounts for each strata scheme
- Collecting, receipting, banking, and accounting for all monies payable to the Owners Corporation
- Processing payment of invoices as authorised by the Owners Corporation
- Preparing and submitting periodic financial statements in accordance with legislative requirements
- Providing owners with 24/7 secure online access to their financial information via the owner portal at Stratamax
- Providing Strata Committee members with secure 24/7 access to financial statements, reports, and scheme documents via the Stratamax portal
Our focus is to deliver reliable and transparent financial management that supports informed decision-making and the smooth operation of your strata scheme.
Meetings
Our experienced team coordinates and facilitates meetings in a professional, efficient, and compliant manner, ensuring adherence to the requirements of the Strata Schemes Management Act 2015 and other relevant legislation.
Our Meeting Management Services include:
- Preparation and distribution of agendas for Strata Committee Meetings, Annual General Meetings (AGMs), and Extraordinary General Meetings (EGMs)
- Attendance at meetings and provision of professional administrative support
- Preparation and distribution of meeting minutes
- Preparation and circulation of motions, ballot papers, and voting documentation as required
- Management of voting processes and recording of meeting outcomes
- Distribution of meeting notices and supporting documentation in accordance with legislative requirements
Our goal is to ensure meetings are conducted efficiently, transparently, and in the best interests of the Owners Corporation.
Property & Strata Administration Support
Stratawide Management delivers comprehensive property and strata administration services with a strong focus on professionalism, accuracy, compliance, and responsive service.
Our experienced team works closely with Owners Corporations and Strata Committees to ensure all administrative functions are managed efficiently and in accordance with legislative requirements.
Our Administration Services include:
- Convening, attending, and recording resolutions of Strata Committee Meetings, Annual General Meetings (AGMs), and Extraordinary General Meetings (EGMs)
- Preparing and distributing meeting notices, agendas, minutes, and supporting documentation
- Issuing levy notices and calculating interest on overdue levy contributions where applicable
- Processing payments on behalf of the Owners Corporation and preparing payment schedules for review and approval by authorised representatives
- Maintaining the books, records, and strata roll of the Owners Corporation
- Preparing and issuing Section 184 Certificates
- Administering and supervising the use of the common seal
- Implementing resolutions and decisions of the Owners Corporation and Strata Committee
- Assisting with tribunal applications and coordinating with legal representatives where specialist legal advice is required
- Providing professional guidance and administrative support to Owners Corporations and Strata Committee
Dedicated Administrative & Support Services
Our dedicated support team works alongside our strata managers to ensure prompt responses, efficient administration, and a high level of service for our clients.
Support Services include:
- Financial administration and accounting support
- Management of insurance renewals and claims administration
- Assisting with compliance requirements relating to local government and SafeWork NSW obligations
- Maintaining and updating the strata roll and scheme records
- Managing correspondence and stakeholder communications
- Preparing and processing Section 184 Certificate requests
- Administration of the common seal in accordance with legislative requirements
- Providing administrative support and guidance to Owners Corporations and Strata Committees
At Stratawide Management, we are committed to delivering reliable, transparent, and efficient strata administration services that support the effective operation and long-term success of your strata scheme.
Levy Distribution, Collection & Arrears Management
At Stratawide Management, we utilise modern systems to efficiently issue levies, manage collections, and administer a structured arrears process designed to minimise outstanding debt and support the financial health of your strata scheme.
We use StrataPay, a convenient payment platform that allows owners to pay levies via multiple methods, including direct debit, BPAY, and EFT, using a unique StrataPay reference number. Payments are automatically receipted and reconciled through daily banking processes, improving accuracy and reducing administrative delays.
Our Levy Management Services include:
- Issuing quarterly levy notices to owners in advance of due dates
- Collecting and depositing levy contributions into the Owners Corporation trust account
- Monitoring arrears and providing reporting on outstanding balances upon request
- Issuing reminder and arrears notices for overdue levy contributions
Our team is trained to manage levy recovery processes with professionalism and efficiency, with a focus on resolving matters promptly and amicably wherever possible.
In accordance with Section 86 of the Strata Schemes Management Act 2015, recovery costs incurred in the collection of unpaid levies may be recovered from the relevant lot owner, ensuring no cost impact to the Owners Corporation.
Legal & Compliance Support
Many strata schemes encounter matters that require specialist legal advice.
While we do not provide legal advice, Stratawide can assist with the coordination and management of legal matters by:
- Assisting with the preparation and registration of by-laws
- Coordinating amendments to existing by-laws
- Assisting with matters relating to Sections 22 and 184 of the Strata Schemes Management Act
- Coordinating levy recovery processes
- Working collaboratively with the Strata Committee and appointed solicitors to address legal matters
- Conveying instructions to solicitors on behalf of the Owners Corporation
As a member of Strata Community Association (NSW), we have access to a network of legal practitioners with extensive experience in strata law and can facilitate referrals where specialist legal assistance is required.
Reporting
At Stratawide Management, timely and accurate reporting is a key component of our service.
Using advanced strata management software, StrataMax, we generate detailed and reliable reports that support financial transparency and strong scheme governance.
Available reports include:
- Financial reports, updated daily to reflect current income and expenditure
- Monthly statement reports detailing all receipts and payments
- Debtors reports outlining outstanding levy balances
- Insurance reports providing up-to-date policy and renewal information
- Owners ledger reports, updated daily for accuracy and transparency
Our reporting system ensures Strata Committee members and owners have real-time access to essential financial and operational information. Reports are automatically updated and available through the secure online owner and committee portal, meaning information can be accessed at any time without the need for manual requests.
All scheme data is available 24/7 via the secure StrataMax portal, supporting transparency, efficiency, and informed decision-making.
Insurance Management
There are two key pillars to the management of insurances in our strata schemes.
Renewals
Stratawide Management manages the insurance renewal process with professionalism and attention to detail, ensuring policies are reviewed and renewed well in advance of their expiry date. This helps prevent any gap in insurance coverage and ensures ongoing protection for the Owners Corporation.
We liaise with insurance brokers and industry professionals to stay informed of market changes, policy updates, and coverage options. This enables us to assist Owners Corporations in maintaining appropriate insurance cover that reflects both value and protection for the scheme.
Claims Management
We provide prompt and efficient support in managing insurance claims to minimise disruption to the strata scheme. Our team coordinates the claims process with relevant insurers and stakeholders to help ensure matters are resolved as smoothly and quickly as possible.
